Economics (Railway)

Total Questions: 50

21. Which factor is not part of the production: [RRB RPF/RPSF SI Exam, 06.01.2019 Shift-III]

(1) Teard-work
(2) Transportation
(3) Land
(4) Flowment

Correct Answer: (2) Transportation

Solution:Factors of production is an economic term that describes the inputs used in the production of goods or services in order to make an economic profit. These include any resource needed for the creation of a good or service. The factors of production include land, labor, capital, and entrepreneurship.

22. NPA, is a loan for advancewhich remain overdue for the time duration of [RRB RPF/RPSF SI Exam, 06.01.2019 Shift-III]

(1) 80 days
(2) 120 days
(3) 60 days
(4) 90 days

Correct Answer: (4) 90 days

Solution:A non performing asset (NPA) is a loan or advance for which the principal or interest payment remained overdue for a period of 90 days. Banks are required to classify NPAs further into Substandard. Doubtful and Loss assets.

23. What is the full form of 'NPCI? [RRB RPF/RPSF SI Exam, 10.01.2019 Shift-II]

(1) India's only payment corporation
(2) Indian national public corporation
(3) National payment corporation of India
(4) National payment corporation

Correct Answer: (3) National payment corporation of India

Solution:National Payments Corporation of India (NPCI) is an umbrella organisation for operating retail payments and settlement systems in India. Its an initiative of Reserve Bank of India (RBI) and Indian Banks Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment & Settlement Infrastructure in India.

24. In which scheme open ended and close ended conditions are used? [RRB RPF/RPSF SI Exam, 10.01.2019 Shift-II]

(1) Mutual fund
(2) Chit companies
(3) NBFC
(4) Insurance companies

Correct Answer: (1) Mutual fund

Solution:

Mutual funds are differentiated on the basis of their structure- open-ended and closed-ended. Open-ended funds buy and sell units on a continuous basis and, hence, allow investors to enter and exit as per their convenience. In Closed-ended funds, the unit capital of closed-ended funds is fixed and they sell a specific number of units.

25. The research of "Shilalekh' is known as? [RRB RPF/RPSF SI Exam, 10.01.2019 Shift-II]

(1) Ecology
(2) Mythology
(3) Sociology
(4) Epigraphy

Correct Answer: (4) Epigraphy

Solution:Epigraphy is the study of ancient languages and scripts, which can be found in the form of inscriptions, scriptures and writings in various forms, like clay tablets, copper plates, palm leaves, etc. A person using the methods of epigraphy is called an epigrapher or epigraphist.

26. When was Liberal Exchange Rate System was dissolved? [RRB RPF/RPSF SI Exam, 10.01.2019 Shift-II]

(2) March 1993
(1) March 1995
(3) March 1994
(4) March 1996

Correct Answer: (2) March 1993

Solution:A new system of exchange rate management in 1992-1993, the Liberalised Exchange Rate Management System (LERMS) made the rupee partially convertible on the current account. Initially a 'dual exchange rate system was introduced to ease the transition from an onerous trade regime to a market-friendly system encompassing both trade and payments. Under this system, 40 percent of exporter receipts and remittances had to be sold to authorized dealers at the official exchange rate, while the balance were converted at the market rate.

27. Fullform of CRR is: [RRB RPF/RPSF SI Exam, 10.01.2019 Shift-III]

(1) Cash Reserve Report
(2) Cash Reserve Ratio
(3) Casual Reserve Ratio
(4) Counter Reserve Ratio

Correct Answer: (2) Cash Reserve Ratio

Solution:Cash Reserve Ratio (CRR) is an Instrument of Reserve Bank of India's monetary policy. The CRR requires that every scheduled commercial bank has to keep a certain proportion of their demand and time deposits with the RBI as cash reserve.

28. In the field of national planning, the official use is implicit in: [RRB RPF/RPSF SI Exam, 11.01.2019 Shift-II]

(1) Revolution of England
(2) Canadian revolution
(3) Bolshevik revolution of Russla
(4) French revolution

Correct Answer: (3) Bolshevik revolution of Russla

Solution:In November 1917, the Bolsheviks and Vladimir Lenin led a revolution, inspired by Karl Marx's theory of class struggle. The five-year plans for the development of the national economy of the Soviet Union (USSR) beginning in the late 1920s. Joseph Stalin implemented the first Five-Year Plan in the Soviet Union in 1928. Most communist states and several capitalist countries subsequently have adopted them.

29. Minimum support price is related to: [RRB RPF/RPSF SI Exam, 11.01.2019 Shift-I]

(1) Automobile industry
(2) Agriculture production
(3) Petroleum industry
(4) Import and Export

Correct Answer: (2) Agriculture production

Solution:Minimum Support Price (MSP) is a form of market intervention by the Government of India to insure agricultural producers against any sharp fall in farm prices. The minimum support prices are announced by the Government of India at the beginning of the sowing season for certain crops on the basis of the recommendations of the Commission for Agricultural Costs and Prices (CACP).

30. Health in Human Development Index (HDI) is measured in: [RRB RPF/RPSF SI Exam, 11.01.2019 Shift-II]

(1) Absence of diseases
(2) Mother mortality rate
(3) Infant mortality rate
(4) Life expectancy at the time of birth

Correct Answer: (4) Life expectancy at the time of birth

Solution:Human Development Index (HDI) includes three dimensions:

(1) Health/longevity: Life

expectancy at birth

(2) Education/knowledge:

• Mean years of schooling

• Expected Years of Schooling and

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